Friday, March 18, 2011 3:11:12 PM
The whole sector fell off a cliff, safe to say the supply/demand dynamics are still in great imbalance and Strathmore is a great buy here imo.
Strathmore Minerals had a small rebound this morning. After a hard and fast sell off in the wake of the Japanese disaster, though the disaster is ongoing, I feel Starthmore is oversold. This morning the market agreed and after passing into my Fibonacci time zone #1, it has begun it's recovery. Just a 23.6 retracement to 0.88 would yield a 29.4% return. I expect a 50.0 retracement to 1.14 within the next 12 months, yielding at least 67.6% from these levels.
Remember what Bernard Baruch said while we are on the way back up, "I got rich selling too early." Profit taking points should be the end of every successful trading strategy.
http://nationaleconomist.blogspot.com/
Just updated.
Strathmore Minerals had a small rebound this morning. After a hard and fast sell off in the wake of the Japanese disaster, though the disaster is ongoing, I feel Starthmore is oversold. This morning the market agreed and after passing into my Fibonacci time zone #1, it has begun it's recovery. Just a 23.6 retracement to 0.88 would yield a 29.4% return. I expect a 50.0 retracement to 1.14 within the next 12 months, yielding at least 67.6% from these levels.
Remember what Bernard Baruch said while we are on the way back up, "I got rich selling too early." Profit taking points should be the end of every successful trading strategy.
http://nationaleconomist.blogspot.com/
Just updated.
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